Trump tweet on Harley-Davidson move after tariff, European Union trade fight
28 June, 2018, 11:25 | Author: Shannon Aguilar
Once the news was out, President Trump rushed to Twitter to make his feelings known.
While it will take some time to shift production overseas, the BBC reports Harley-Davidson won't pass the increased costs onto consumers as it doesn't want to jeopardize sales. If they move, watch, it will be the beginning of the end - they surrendered, they quit! "Harley must know that they won't be able to sell back into US without paying a big tax!" Their employees and customers are already very angry at them.
Why is Harley-Davidson making this change?
The company also said it would move some motorcycle production overseas.
Harley on Wednesday responded while sidestepping the controversy and not commenting on the president's tweets.
In an emerging trade war sparked by U.S. steel and aluminum tariffs on American allies, the European Union responded with levies on a series of American products including motorcycles, bourbon and blue jeans.
Last week, Indiaannounced higher duties on several goods imported from the USA, in retaliation to Trump imposing hefty tariffs on steel and aluminium imports. "Hence, they were just using Tariffs/Trade War as an excuse", he said.
FILE PHOTO: Harley Davidson motorcycles are displayed for sale at a showroom in London, Britain, June 22 2018.
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Soon after the company's announcement, Trump weighed in with typical bombast.
The Thailand plant had no connection with the closure of the Kansas City facility, Harley-Davidson Chief Executive Matt Levatich told Reuters in an interview in February.
Trump says he's getting other countries to reduce and eliminate tariffs and trade barriers, and open up closed markets. "We have countries where, as an example, India, they charge up as much as 100 percent tariff".
Besides Thailand, Harley-Davidson has two more assembly plants outside the United States, in Brazil and India.
Meanwhile, in order to intensify its sanctions against Iran, the USA has ruled out any exemption to India and Indian companies from carrying out any transactions with Iran. Morningstar Equity Research said in a note that the tariffs might "temporarily" hamper some of the company's planned growth initiatives.
Harley-Davidson executives met with President Trump at the White House previous year after President Trump canceled a visit to the company's headquarters in Milwaukee because protests had been planned. "Harley must know that they won't be able to sell back into US without paying a big tax!" Trump said in a post on Twitter on Monday night.
Moving the production worldwide will allow Harley-Davidson to avoid tariffs the European Union imposed in retaliation for Trump's steel and aluminum tariffs.
The iconic motorcycle brand is the latest U.S. corporation to run afoul of the U.S. president, who has attacked Amazon as a tax dodger and scamming the U.S. Postal Service.
But the reforms have been contradicted by the continued imprisonment of female activists inside Saudi Arabia . "It was flawless . The kingdom is lifting its longstanding ban on women driving , decades after Saudi feminists began fighting for that right.
The Trump tariffs, which the USA government says are punishment for intellectual property theft, will be enacted in two waves. Mr Trump also has slapped tariffs on steel and aluminium imports from Canada, Mexico and European allies.
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Harley Davidson to shift production over European Union tariffs
The EU levied the tariffs , which became effective on Friday, in response to increased USA tariffs on European steel and aluminum. The company noted that ramping up production in worldwide plants will require incremental investment and take nine to 18 months.
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